Just so you know this is out there. sankaran.substack.com/p/an-interve...

This post lies in that Twilight Zone between deep annoyance at the discourse and a nagging feeling this might actually make a little bit of sense.

Karthik Sankaran@rajakorman.bsky.social · 17h ago

I’m just go to all the way and say (half in jest as I throw around the name-adjectives) that we’re talking about a Leninist political order with Listian inclinations and a Weberian bureaucracy that combines Stakhanovite extraction with Schumpeterian innovation all built on a Confucian substrate.

Leninism, but with Bukharinite and Schumpeterian characteristics. (Left cap) China won’t apologise for overcapacity economist.com/china/2026/0... from The Economist

There are also strong hints of classic Mitteleuropa in the implicit mention of a toilet with a Stool-Inspection Shelf, which makes this even more worrying.

Ben Collins@bencollins.bsky.social · 21h ago

Oh my god the dietician who is telling everyone in the White House to only eat steak and sauerkraut doesn't wipe his ass.

If you get Lyme disease while you’re out walking your dog (which I suspect is a very common vector), you get it as a result of a lab leak.

Karly Kingsley@karlykingsley.bsky.social · 23h ago

RFKJr claims Lyme disease was created by scientists,which is the closest he’s come to admitting that science exists. Meanwhile, Ötzi the Iceman, who died more than 5.3K years ago, had Lyme disease. Apparently prehistoric humans are part of the conspiracy. Get me off this timeline

One of the finest of our trade policy community and I'm pleased to say I'll be doing a WTO Public Forum 'fringe' event with Inu on the backlash to trade in Europe and the US, and how that could be changed

Peterson Institute for International Economics@piie.com · 2d ago

We're thrilled to announce @inumanak.bsky.social is joining PIIE as a senior fellow! Welcome, Inu! 🎉

While I’m ok with UST intervention, there may be other ways to help global bond markets?

This is probably good news for the Missile GAAP?

🚨 How's Japan LLC doing on its currency intervention P&L? Pretty well. www.ft.com/content/7ff5...

NEW: US tariffs have failed to significantly reduce US dependence on Chinese goods & services. 💡China's share of bilateral US imports fell by 7 percentage points from 2017-24 while China's share of value-added in US imports fell just 2 percentage points. Read more here: www.piie.com/publications...

Thought someone on here might know someone: we're looking to add a mid-level commodities analyst in our alternative products group (we do hedging for corporates/asset managers). They need to do analysis and write at a high level about rates, energy, metals, ag, etc (1/2)

Well, now that this UST is doing multilateral intervention, maybe we can start thinking of other constructive steps like the US adding CGBs to reserves.

Karthik Sankaran@rajakorman.bsky.social · last wk.

Btw, as the argument about RMB undervaluation heats up, here is an (IMO) constructive suggestion in an LTE from late June(?) the FT did not publish.

We’re going to have to do MMT for LMT, aren’t we?

One thing about the Intervention rationale. "Involuntary" sales of USTs (sales to prevent a currency from depreciating) have historically been seen as deflationary shocks boosting appeal of USTs (1998). Yet another thing that may have changed as global -ve supply shocks outnumber -ve demand shocks.

Such a wordy pun that by the end of it I’ve grown long in the tooth

This is indeed a shocking turn of events. The typical dentist-focused structured product is supposed to be knockout-based short vol structure aimed at a profession that is intrinsically long decay.

Metro North Capital@metronorthcapital.bsky.social · yesterday

I used to think that the German Dentists’ pension fund where the investment board consisted solely of dentists was the platonic ideal of a mark. No more. The Korean Dentist Who Loves Leveraged ETFs is the new apex. I shudder to think how much dogshit wall st trading desks can shovel into his maw

While I’m not a fan of this UST in many respects, I think UST support for JPY is warranted, could be successful, and have argued it should have been undertaken 3 years ago, when we were pushing 150. open.substack.com/pub/sankaran...

I don’t pay that much attention since I don’t live there, but seeing intermittent posts it’s as if British politics these days has a lot of people like John Cleese going “Whatever you do, always mention the war.”

Also this.

There Will Come Soft Rains by Ray Bradbury

The voice-clock sang, breakfast was ejected, but no doors slammed. The garage chimed and lifted its door to reveal the waiting car. The house sat alone in a city of rubble and…

short-stories.co

It’s That Special Day Again.

My opinion guaranteed to annoy most people mis that it is fine for DM Central Banks to use the domestic versus foreign asset composition of their large balance sheets to influence the exchange rate in some kind of rule based framework, but this should be done independently of the fiscal authority.

We are now in a place where not only does most of the GOP believe that political legitimacy is derived solely from the electoral consent of those voters that would have had the suffrage in 1859, but a surprising number of Dems think wins without a majority of such voters are somehow tarnished.

I don't really know enough to evaluate this piece on US PE and HC other than to say this seems rather unusual based on my extremely limited knowledge of HC economics in other advanced economies. www.commonwealthfund.org/publications...

Is Private Equity a Friend or Foe to Physicians? The Devil Is in the Details

A growing number of medical practices are backed by private equity investment, a shift that is impacting physician income and independence.

commonwealthfund.org

What percent of institutional Japanese holders of JGBs as assets have inflation-indexed JPY liabilities? Don't know the answer but seems like a clue?

A Weberian state is one that has a tradition of barbecuing on its Independence Day.

Wrong designer. It’s not Boss Tweed.

fuckface "squeaky" from:me@skeet.best · 2d ago

men, what's stopping you from looking like this

Love this chart: “NGDP per capita is growing as fast as it was during the late 1990s and has accelerated faster. This is without the global disinflationary dividends of NAFTA, the end of the Cold War, or China and East Asia's rapid rise.” via @pd-williams.bsky.social

One of my favourite themes of yours! It just ouzos culture.

I am excited to join @piie.com, where I will continue to advance my research on U.S. trade policy alongside a leading group of experts committed to advancing global prosperity and developing practical policy solutions to contemporary economic challenges.

Peterson Institute for International Economics@piie.com · 2d ago

We're thrilled to announce @inumanak.bsky.social is joining PIIE as a senior fellow! Welcome, Inu! 🎉

Surprised Pastis was not already popular in Germany given the country’s love affair with Ricardian equivalence.

Alexander Clarkson@aphclarkson.bsky.social · 2d ago

Counterpoint: One of the best things to happen to the 90s/00s Berlin scene was the introduction of pastis with petanque by hardworking French immigrants